Foldable Houses Market Expected to Reach $16.8 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Foldable Houses Market," The Foldable Houses Market Size was valued at $7.1 billion in 2021, and is estimated to reach $16.8 billion by 2031, growing at a CAGR of 9% from 2022 to 2031. 

Commonly foldable houses are constructed in two types; single section and multi section. Among these, the multi section segment accounted for the highest market share in 2021, owing to its ability to house a greater number of people. The foldable houses market share is analyzed with respect to different architectures including slope roof and flat roof. Out of these, the flat roof segment registered the highest revenue in 2021, owing to its easy manufacturing and deployment. And, on the basis of end user, the market is categorized into single family and multi family. The market is mainly driven by the high sustainability of foldable houses, increasing demand for shelters for homeless people, and growth in the prefabricated housing industry. However, fluctuating costs of raw materials used for making foldable houses, and structural limitations of foldable houses have the potential to limit the foldable houses market growth.

In 2021, North America dominated the global market, in terms of revenue, followed by Europe and Asia Pacific. Moreover, the market in Asia-Pacific is expected to grow with the highest CAGR, owing to the growth in population. Furthermore, foldable house manufacturers are adopting various development strategies to remain competitive in the market. For instance, in 2020, Modulous Housing, an India based manufacturer of portable foldable houses has begun working with various construction companies, NGOs, and event management firms to provide foldable shelters that are easily portable and deployable.

However, during the pandemic lockdown, various manufacturers in the foldable houses market had to stop their business in countries such as China, the U.S., Japan, and countries in Europe. This break directly impacted the sales of foldable houses manufacturing companies. In addition, the lack of manpower and raw materials constricted the supply of raw materials for foldable houses; thus, negatively influencing the growth of the market. Conversely, after two years of the COVID-19 outbreak and the introduction of vaccinations, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly.

The inadequate construction of houses, lack of social housing units, and rising number of immigrants in the developing countries are increasing housing prices, eventually resulting in a serious housing shortage in the country. In addition, with the increased regulatory framework in the areas of energy efficiency in the construction segment, the developmental costs of buildings have risen exponentially, thus restricting the growth of new building construction in the country. Such factors are expected to drive the demand for foldable houses as they are cheap in price, quicker to deploy, and energy efficient.

The construction sector in the country is negatively affected by factors such as slow economic growth, relatively low household disposable income, rising unemployment rate, and low public budget spending. These factors are collectively expected to drive the growth of prefabricated houses including foldable houses, owing to their cheapness and modern design. In addition, the slow development of affordable housing in developed countries is also expected to provide a moderate yet positive boost to market growth.

Key Findings Of The Study

• The report provides an extensive analysis of the current and emerging global foldable houses market trends and dynamics. 
• Depending on architecture type, the flat roof segment has dominated the foldable houses market, in terms of revenue in 2021 and slope roof segment is projected to grow at a significant CAGR during the forecast period.
• By end user, the multi family segment has registered highest revenue in 2021.
• North America is projected to register highest growth rate in the coming years.
• The key players within the global foldable houses market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the foldable houses industry.
• The report provides an extensive analysis of the current trends and emerging foldable houses market opportunities.
• In-depth global foldable houses market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
• The global foldable houses market forecast analysis from 2022 to 2031 is included in the report.